We offer several programs for foreclosures. If it's a Fannie Mae foreclosure we have the Homepath Financing program and we also have the HUD $100 down program for HUD foreclosures. Please let me know if you need more information on these two programs.
Anna Maria Durr, NMLS 266699, TREC 596662, Codemark Financial,
2626 Richmond Ave., Houston, Texas 77098, 281-592-0667
In order to purchase any home, except paying cash, you will need to be pre qualified by a mortgage institution. You will have to meet the minimal credit score set by the particular company you are prequalifying with. Minimal scores may vary a little from lender to lender. There is not a lower credit score qualification for a foreclosed home that I know about. So, if you qualify, you will be able to choose from a foreclosure, or a resale home, or a new home.
I can help you with a FHA home loan if your mid credit score is at least 580. The foreclosure would need to be able to go FHA. Contact me for more information.
Nor does matter what your Credit Score is:
Your Interest Rate is dependent upon your Credit Score.
Borrowing money for a Foreclosure can be easier because the Selling Price is generally lower.
But getting the Loan, and the Interest Rate are dependent upon YOU, not the house.
You should talk to a Mortgage Officer and see what you can qualify for.